mh avia: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
mh avia
Largest movements
- Receivables within one year +€27,557
up €27,557 (+1523.6%), from €1,809 to €29,365
of which Trade receivables: +€28,384
- Cash +€12,878
up €12,878 (+129.8%), from €9,922 to €22,800
mainly Net result for the year (+€15,175) and Deferred charges and accrued income (+€11,320)
- Deferred charges and accrued income -€11,320
down €11,320 (-74.3%), from €15,230 to €3,909
- Financial fixed assets +€7,000
new in 2026: €7,000
- Tangible fixed assets -€1,179
down €1,179 (-50.0%), from €2,360 to €1,180
- Profit (loss) carried forward +€15,175
up €15,175, from -€2,985 to €12,191
- Debts after one year +€6,818
up €6,818 (+26.3%), from €25,896 to €32,714
- Accrued charges and deferred income +€5,426
new in 2026: €5,426
- Trade debts +€3,545
up €3,545 (+117.5%), from €3,016 to €6,561
- Other debts +€2,570
new in 2026: €2,570
- Gross operating margin +€23,342
up €23,342, from -€8,402 to €14,940
- Financial income +€3,995
up €3,995 (+79900.0%), from €5 to €4,000
- Taxes +€1,235
up €1,235 (+714.1%), from €173 to €1,408
- Financial charges +€164
up €164 (+36.6%), from €447 to €611
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,082 | €65,517 | +€34,434 | +110.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €4,122 | €9,442 | +€5,321 | +129.1% |
| Intangible fixed assets | 21 | €1,762 | €1,262 | -€500 | -28.4% |
| Tangible fixed assets | 22/27 | €2,360 | €1,180 | -€1,179 | -50.0% |
| Plant, machinery and equipment | 23 | €2,360 | €1,180 | -€1,179 | -50.0% |
| Financial fixed assets | 28 | - | €7,000 | +€7,000 | |
| Current assets | 29/58 | €26,961 | €56,075 | +€29,114 | +108.0% |
| Amounts receivable within one year | 40/41 | €1,809 | €29,365 | +€27,557 | +1523.6% |
| Trade receivables | 40 | €982 | €29,365 | +€28,384 | +2891.3% |
| Other amounts receivable | 41 | €827 | €0 | -€827 | -100.0% |
| Cash at bank and in hand | 54/58 | €9,922 | €22,800 | +€12,878 | +129.8% |
| Deferred charges and accrued income | 490/1 | €15,230 | €3,909 | -€11,320 | -74.3% |
| Total equity and liabilities | 10/49 | €31,082 | €65,517 | +€34,434 | +110.8% |
| Equity | 10/15 | €1,015 | €16,191 | +€15,175 | +1494.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,985 | €12,191 | +€15,175 | |
| Amounts payable | 17/49 | €30,067 | €49,326 | +€19,259 | +64.1% |
| Amounts payable after more than one year | 17 | €25,896 | €32,714 | +€6,818 | +26.3% |
| Other amounts payable | 178/9 | €25,896 | €32,714 | +€6,818 | +26.3% |
| Amounts payable within one year | 42/48 | €4,171 | €11,186 | +€7,016 | +168.2% |
| Current portion of amounts payable after more than one year | 42 | €1,107 | €0 | -€1,107 | -100.0% |
| Trade debts | 44 | €3,016 | €6,561 | +€3,545 | +117.5% |
| Suppliers | 440/4 | €3,016 | €6,561 | +€3,545 | +117.5% |
| Taxes, remuneration and social security | 45 | €47 | €2,055 | +€2,008 | +4236.1% |
| Taxes | 450/3 | €47 | €2,055 | +€2,008 | +4236.1% |
| Other amounts payable | 47/48 | - | €2,570 | +€2,570 | |
| Accrued charges and deferred income | 492/3 | - | €5,426 | +€5,426 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,650 | €1,679 | +€30 | +1.8% |
| Other operating charges | 640/8 | €128 | €66 | -€62 | -48.6% |
| Gross operating margin | 9900 | -€8,402 | €14,940 | +€23,342 | |
| Operating profit (loss) | 9901 | -€10,179 | €13,195 | +€23,374 | |
| Financial income | 75/76B | €5 | €4,000 | +€3,995 | +79900.0% |
| Recurring financial income | 75 | €5 | €4,000 | +€3,995 | +79900.0% |
| Financial charges | 65/66B | €447 | €611 | +€164 | +36.6% |
| Recurring financial charges | 65 | €447 | €611 | +€164 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,621 | €16,584 | +€27,205 | |
| Income taxes | 67/77 | €173 | €1,408 | +€1,235 | +714.1% |
| Profit (loss) for the period | 9904 | -€10,794 | €15,175 | +€25,970 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,794 | €15,175 | +€25,970 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.